FCI supports 2019 ICC SCF summit in Singapore

Monday 4 March 2019

As a part of FCI’s mission to work with like minded organizations to promote open account financing, it was a partner event of the 2019 ICC Supply Chain Financing Summit in Singapore.

The two day event from 27 to 28 February was very successful and was attended by more than 300 participants which are mainly Financial Institutions, Banks and Fintechs.

Many participants come from countries in the region. There was a contingent of 26 participants from Bangladesh, comprising representatives from Banks, Finance Companies and Central Bank.

FCI took this opportunity to host a welcome dinner for the Bangladeshi delegates. One of the delegates Mr. Sjjad Hossain Chowdhury commented “Thanks FCI for this kind gesture and we look forward to be associated with FCI in the coming days“. We hope this goodwill will prevail and hopefully we can help Bangladesh to join the world of international factoring.

FCI’s Regional Director for South and South Asia, Lee Kheng Leong was on the panel discussing on the scope for alternative finance - what are the opportunities and risks for non-bank provider.

Mr. Lee highlighted that open account financing in various forms provide great opportunities for non-bank provider and if properly managed it is a very secured and safe form of financing. He also mentioned that FCI provides training on all aspects of receivable financing to help both banks and non-bank financial institutions to run efficient, safe, viable and growing receivable financing products.